1 day ago
Silver Futures Fall as Traders Reduce Their Bets
Silver prices went down in futures trading.
A futures contract is an agreement to buy or sell something later.
The price fell by Rs 1,955 to Rs 2,40,489 per kilogram.
Contracts for delivery in December dropped by 0.81 per cent.
Traders bought fewer contracts and reduced their bets.
Analysts said selling by participants pushed prices lower.
The silver market recorded a turnover of 2,004 lots.
In New York, silver was also lower at $68.22 per ounce.
Its global price fell by 1.04 per cent.
Silver futures prices fell by Rs 1,955 to Rs 2,40,489 per kilogram.
December-delivery silver contracts declined 0.81 per cent.
The contracts recorded a business turnover of 2,004 lots.
Analysts attributed the decline mainly to selling by market participants.
Globally, silver was down 1.04 per cent at $68.22 per ounce in New York.
- Who
- Silver-market participants and analysts.
- What
- Silver futures prices declined as participants reduced their bets and sold contracts.
- Where
- The futures trade and the global silver market in New York.
- When
- During the reported futures trading session; the contracts referenced were for December delivery.
- Why
- Analysts said selling by participants mainly weighed on silver prices.
Key facts
- Futures price
- Rs 2,40,489 per kilogram
- Price change
- Down Rs 1,955
- December contracts
- Down 0.81 per cent
- Business turnover
- 2,004 lots
- Global silver price
- $68.22 per ounce
- Global price change
- Down 1.04 per cent in New York
Sources
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